Pinnacle West Capital Q1 EPS Misses

Pinnacle West Capital (PNW) reported pre-market Wednesday mixed Q1 results, with weaker-than-expected earnings on improved revenues that beat expectations compiled by Capital IQ.

Q1 EPS was $0.03, down from $0.21 per share a year earlier and below the $0.08 per share mean estimate.

Revenues rose to $692.7 million from $677.7 million in the year-ago quarter and beat the $681.0 million mean estimate.

For FY18, the utility firm reaffirmed its EPS outlook of $4.35 to $4.55, straddling the $4.47 per share consensus. It also expects to achive a consolidated earned return on average common equity of over 9.5%.

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